Definition of turnaround
- 24-hour turnaround time on most orders
- a quick turnaround between flights
- a turnaround jumper
The turnaround for most orders is 24 hours.
There is a 24-hour turnaround time on most orders.
a quick turnaround between flights
The team needs a big turnaround after their loss last week.
The company has achieved a remarkable turnaround in the past year.
The latest news has caused a turnaround in public opinion.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'turnaround.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
A turnaround occurs when a company takes successful steps to correct a period of deteriorating financial performance.
To turn a business' financial results around, companies often obtain special financing for revitalization projects or hire managers with a proven track record of improving the financial results at struggling companies. Famous "turnaround" CEOs include Al "Chainsaw" Dunlap, who was hired in 1996 to turn Sunbeam around, or Jacques "The Knife" Nasser, who was tapped in 1999 to revitalize operations at Ford (NYSE: F).
Turnarounds frequently involve stabilizing the business and then cutting costs, reducing the workforce, selling superfluous assets, divesting entire divisions, retiring excess debt, and/or dramatically changing how the company markets or sells its products. In some cases, turnarounds also involve filing for bankruptcy in an effort to reduce/restructure heavy debt loads.
Turnaround efforts can be risky and don't always end in success. According to a Harvard Business Review study, about 70% of all turnaround efforts fail. However, some companies -- like MCI and K-Mart -- have emerged from bankruptcy, addressed critical problems, and made gradual improvements.
By definition, companies in need of a turnaround have reported declining financial results, and many have seen their shares collapse as investors lost faith and sold their positions. As a result, companies seeking to turn around their operations often trade at a sharp discount. Such firms often capture the attention of value investors, particularly when there is a strong possibility that turnaround efforts are likely to deliver improved financial performance in the near future. In fact, the mere announcement that a company plans to engage in turnaround efforts often results in an increased stock price.
: the time it takes someone to receive, deal with, and return something
: the process of making something (such as an airplane) ready for use again after it has arrived at a place
: a complete change from a bad situation to a good situation, from one way of thinking to an opposite way of thinking, etc.
What made you want to look up turnaround? Please tell us where you read or heard it (including the quote, if possible).